Recent discussions highlight the potential for significant Bitcoin price growth, particularly regarding surpassing the $130,000 mark.
Potential Bitcoin Growth
Bitwise CEO Hunter Horsley stated that the selling pressure on Bitcoin will evaporate once the price exceeds $130,000. "I think once Bitcoin breaks through, e.g., $130-150k, no one is going to sell their Bitcoin," he mentioned in an X post.
Sales by Early Investors
Bitcoin is currently hovering around its all-time highs, trading at $108,698. Horsley noted that the current sell pressure mainly comes from early buyers who acquired Bitcoin at much lower prices. "Right now at $100k, it seems individuals who hold a lot of Bitcoin that was bought a long time ago at very low prices are selling some," he added.
Borrowing Sector and Bitcoin Supply
According to Horsley, Bitcoin holders needing liquidity in the future will find other ways to utilize their holdings without selling them. He also emphasized that the tightening supply of Bitcoin in the market will contribute to price increases. "When people need liquidity, they are going to borrow from an ever-growing set of lenders," he stated. Additionally, signs of tightening supply have been observed in the market.
The forecasts for Bitcoin's value suggest that the price could reach new records. Possible scenarios for sustained growth depend on investor behavior and the overall market condition.
